Agriculture and farming businesses are constantly trying to improve yields while facing huge challenges in high costs, shortages of labor, ecological changes and impacts, and changes in consumer preferences, especially around agricultural transparency and sustainability. Recent innovations in the agriculture market include indoor Vertical Farming, increased Farm Automation including autonomous agricultural equipment and systems, modern Greenhouses, big-data powered yield optimization, and precision Agriculture.
AI has many uses in the AgriTech markets. These include analyzing market demand, managing risk, breeding seeds, monitoring soil health, protecting crops, feeding crops, and harvesting. Enhanced use and access to data from sensors, aerial images, and third-party sources are helping to increase farm efficiency and crop productivity. AI capabilities in the AgriTech market include use of remote sensors, satellites, and drones that can gather information all day over an entire field. This allows farmers to gain valuable insight into their plant health, soil condition, temperature, humidity, and other key factors.